In establishing rates, unless there is evidence that wage rates, benefits, working conditions or other terms or conditions of employment are not comparable to other collective bargaining agreements for comparable regulated and nonregulated entities in comparable economic and geographical environments, the Corporation Commission shall not disallow or otherwise change any wage rate, benefit, working condition, or other term or condition of employment that is the subject of a collective bargaining agreement between the public utility or public service corporation and a labor organization. Nothing herein shall affect the authority of the Commission to make adjustments where necessary to match wages and benefits with a test year examined by the Commission and to allocate a benefit to the period during which rates will be expected to remain in effect.

It is the intention of the Legislature that any provision of this section is an amendment to, and alteration of Sections 18 through 34 inclusive of Article IX of the Oklahoma Constitution as authorized by Section 35 of Article IX of the Oklahoma Constitution.